Garanti Bank headquarters is pictured in Istanbul, Turkey February 11, 2016. REUTERS/Murad Sezer
ISTANBUL, Nov 17 (Reuters) – The offer by Spanish lender BBVA (BBVA.MC) to buy the rest of Turkey’s Garanti Bank (GARAN.IS) shows the confidence in Turkey’s economy, President Tayyip Erdogan said on Wednesday.
Erdogan was speaking in a news conference alongside Spanish Prime Minister Pedro Sanchez.
“The statements made by the Spanish bank BBVA are a concrete sign of the trust in Turkey,” Erdogan said.
BBVA offered on Monday to buy the rest of Garanti for up to 2.25 billion euros ($2.6 billion), taking advantage of a slide in the lira and raising fears in Turkey that foreigners might snap up assets at bargain prices. read more
Reporting by Tuvan Gumrukcu and Ali Kucukgocmen; Editing by Alex Richardson
Our Standards: The Thomson Reuters Trust Principles.